Frankfort, KY – Come 2010, members of the military will not have to state income taxes in Kentucky. The measure passed as part of House Bill 3, the mega-incentives bill. Legislators had tried to include the tax exemption in the video slots bill, which failed during the special session. The House passed the tax legislation 86-10 and the Senate voted 35-0 in favor of passage.
Frankfort, KY – The Kentucky House and Senate are preparing to take final action on bills addressing the budget, bridge financing and economic incentives. This morning, House and Senate conferees signed-off on agreements reached on those issues. Senate President David Williams says the economic incentives bill exempts one race day in Kentucky from the pari-mutuel tax.
Frankfort, KY – Kentucky lawmakers have given final approval to a plan to erase a $1 billion budget shortfall brought on by the ailing economy. Both the House and Senate approved a bill today that applies some $740 million in federal economic stimulus money to the state budget. The remainder of the shortfall will be handled largely through a 2.6 percent cut to government agencies. Governor Steve Beshear is reviewing the bill.